Continuing its losing streak for the eight straight session, gold prices shed Rs. 40 to close at a nearly one-month low of Rs. 28,100 per 10 grams in the national capital on Saturday due to slackened demand from jewellers and retailers even as the metal recovered overseas.
Silver also eased by Rs. 200 to Rs. 42,600 per kg on lack of buying support from industrial units.
Subdued demand from jewellers and retailers amid strengthening rupee against the US dollar, making imports cheaper, kept pressure on gold prices, according to traders.
However, recovery in gold prices in global markets, capped the losses, they said.
Globally, gold rose 0.4 per cent to $1,280.20 an ounce in New York.
In Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs. 40 each to Rs. 28,100 and Rs. 27,900 per 10 grams, respectively, a level last seen on July 25. The yellow metal had lost Rs. 680 in the previous seven sessions.
Sovereign, however, remained flat at Rs. 24,600 per piece of 8 grams in limited deals.
Silver ready fell by Rs. 200 to Rs. 42,600 per kg and weekly-based delivery by Rs. 215 to Rs. 41,955 per kg. The white metal had gained Rs. 150 on Friday.
On the other hand, silver coins ruled steady at Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.
—PTI